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Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
 There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering as well as SnP activity. As far as the latter is concerned, we observe a strong nega-tive trend in asset prices that has kicked off back in mid-2014, but which has nevertheless still hasn’t convinced buying interest to the extent that one would think. This trend affects all segments and ages with the most repre-sentative examples those of the 10-year old Panamax and the 5-year old Cape, the prices of which are currently at a massive discount compared to a year ago.
The obvious question that rises among the majority of shipowners and po-tential investors is whether this is the right time to invest in second hand vessels or not, but this time round the argument for investing is very hard to make as the present earnings from the very depressed freight market are at levels that in many cases fail to even cover operation expenses.
So does buying a ship at a low freight market entail a substantial risk? The answer is a definitive yes, but as it has happened many times in the past, such risks have proven to be excellent investment choices when improved freight levels finally take place following a market recovery. The million dol-lar question is as always what is the best time for such investments, and one that cannot be answered as the “perfect timing” or “accurately calling the bottom” is a very rare occurrence in this market to begin with.
When looking at the very low asset prices and the fairly intense buying inter-est of the last month, especially for vessels build post 1990, one could ob-serve that some key players are eager to buy at the lowest price they can achieve right now, having in mind that the BDI has reached its historical bottom recently and a gradual rise is bound to happen even at a pace that might not secure immediate profit for shipowners.
At the same time, the oversupply of available tonnage in the dry market remains a very important issue, especially if one takes into account the num-ber of bulkers that are due to be delivered this year following the ordering spree of 2013. Slippage and cancellation might help this number eventually come in lower than expected, while on top of that, intense demolition activi-ty is already offering hopes for a much needed breather in the dry bulk mar-ket, despite the fact that demo prices are currently in the range of $360-380/ldt. Although a slight increase in steel prices has been observed in the past couple of weeks this is not yet reflected in demo prices, but if it eventu-ally does, we expect the number of bulkers heading for scrapped to acceler-ate.
To sum up despite the fact that the dry market is not currently showing signs of a recovery being just around the corner, I believe that we will sooner rather than later observe more intense buying interest being transformed into actual deals, especially for vessels that are easier to charter these days and still manage to do so over OPEX levels, such as geared sizes build after 2000.
By Panos Makrinos
SnP Broker
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
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Showing 2926 to 2930 news of total 6871 |
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- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Deloitte Consulting - India
- The University of Queensland
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Planning Commission, India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
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